24 October 2013

Infinera enters profitability on Q3 revenue up 27% year-on-year

For third-quarter 2013, Infinera Corp of Sunnyvale, CA, USA, a vertically integrated manufacturer of digital optical network systems incorporating its own indium phosphide-based photonic integrated circuits (PICs), has reported revenue of $142m, up 2.6% on $138.4m last quarter and 27% on $112.2m a year ago.

On a non-GAAP basis (excluding non-cash stock-based compensation expenses), gross margin was 49%, up on 39% both last quarter and a year ago. Net income was $12.8m, compared with a loss of $1.2m last quarter and $7.8m a year ago.

“DTN-X adoption continued to drive strong financial results... We generated solid revenue growth and achieved positive cash flow from operations, with both gross margin and profitability exceeding our expectations,” says CEO Tom Fallon. “During the quarter, we received purchase commitments from five additional customers, including two new to Infinera, bringing our total DTN-X customer count to 39,” he adds.

“We are seeing growing global demand for Infinera’s Intelligent Transport Network and the DTN-X, the only platform available in the market today that offers super-channel scale, converged OTN switching and GMPLS network automation,” Fallon claims “This interest is across industry segments, including domestic and international Tier 1 carriers, bandwidth wholesalers, cable, and Internet content providers,” he continues.

“We remain committed to growing our market share and are increasingly confident that over the next 12 to 18 months we will add new strategic accounts while expanding our deployments with existing customers.”

See related items:

Infinera’s Q2 revenue up 48% year-on-year

Infinera’s Q1 revenue up 19% year-on-year

Infinera grows revenue 14% in Q4 while it continues to cut losses

Tags: Infinera InP PIC

Visit: www.infinera.com